Unimech Aerospace raised Rs 250 crore in a funding round led by Steadview Capital, ValueQuest Scale Fund, and Evolvence India, resulting in a post-money valuation of Rs 3,250 crore.
This funding is part of the Bengaluru-based space startup’s private placement round.
Unimech Aerospace specializes in making high-precision tooling for aero-engines and airframes. It also manufactures components, assemblies, and electro-mechanical turnkey systems for the aerospace, defense, energy, and semiconductor industries.
Preparing to go public, the startup plans to use the funds for both organic and inorganic growth. It aims to strengthen operations and enhance its “build to print and build to spec solutions,” according to a statement.
“From our humble start in 2016 as a bootstrapped team of five, we’ve grown to over Rs 200 crore in revenue with 380 employees for FY 2023-24, all without external funding,” chairman and managing director Anil Puthan said.
The company collaborates with energy, defense, and semiconductor OEMs. As an export-oriented company, it has a presence in the US, Europe, and the UK.
This development comes after the NDA government boosted space tech startups in its first budget of its third consecutive term. Finance Minister Nirmala Sitharaman announced a Rs 1,000-crore venture capital fund to invest in India’s space economy.
